Control Public Spending – A Phrase You Rarely Hear From Labour

To get the simple financial mechanics out of the way first, as in any household or business if you borrow more than you can afford to pay back, some action is required to correct the situation. The alternative is financial ruin.

Labour are demanding that the government make no increase in our EU contribution. That seems to make sense as we all try to control public spending.

The consequences of such action could be isolation within the EU as other members particularly those who benefit from the scheme vote for an increase.

Do you think that Labour are really serious about controlling public spending?